MI Public Adjuster Practice Questions - Michigan Public Adjuster Exam

What is the fiduciary responsibility of a Michigan adjuster for the insured under MCL 500.1226(3)?

There is no fiduciary responsibility The adjuster has a fiduciary duty to handle claim proceeds honestly and in the client's best interest, as referenced in the fee limitation and conduct provisions The fiduciary duty belongs only to the insurance company Fiduciary duty only applies to financial advisors

Correct Answer:

The adjuster has a fiduciary duty to handle claim proceeds honestly and in the client's best interest, as referenced in the fee limitation and conduct provisions

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